REPowerEU
Finland to use new EU funding to accelerate transition to clean energy
The Government approved the proposal for the REPowerEU chapter of Finland’s Recovery and Resilience Plan. The chapter includes measures to speed up environmental permit procedures, research on clean energy and investments in the clean transition.
The EU is seeking to use the REPowerEU plan to cut its dependency on Russian fossil fuels and to speed up the transition to clean energy. REPowerEU is part of the Recovery and Resilience Facility (RRF).
The Union will grant a total of EUR 20 billion in funding for measures under REPowerEU. The EU is funding the plan mainly by selling emission allowances belonging to the EU Innovation Fund and by bringing forward the sale of emission allowances allocated to Member States.
Finland to receive a maximum of EUR 127 million in funding
Finland will receive a maximum of EUR 127 million in new funding under REPowerEU. In order for Member States to apply for funding, they must add a REPowerEU chapter to their Recovery and Resilience Plan (RRP). The new chapter sets out investments and reforms that promote the objectives of the REPowerEU plan.
Finland's proposal is to allocate the funds as follows:
- speeding up permit procedures in a manner compatible with the regional government reform, EUR 32 million
- R&D and pilot projects relating to clean energy and material flows, EUR 40 million
- investments in the clean transition, EUR 54.5 million
- transition of Åland’s energy system, EUR 0.7 million.
Assessment by the Commission, approval by the Council
The Government approved Finland’s proposal for an updated Recovery and Resilience Plan on Thursday 5 January. The Ministry of Finance sent the proposal to the EU and will continue talks with the European Commission. The Commission will then assess the updated plan and, finally, the Council of the EU will approve it.
The Recovery and Resilience Plan is part of the Sustainable Growth Programme for Finland, which will boost reforms and investments. The Programme is funded mainly through the EU’s recovery plan (NextGenerationEU).
Inquiries:
Laura Vartia, Senior Ministerial Adviser, tel. +358 295 530 228, laura.vartia(at)gov.fi
